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Petroleum Price Board and the norm prices

The Norwegian Ministry of Petroleum and Energy collets information about sale of crude, natural gas liquids (NGLs) and natural gas from the Norwegian shelf.

Norm Prices 2012:

Norm Prices 2011:

  • 4. quarter (.xlxs)
  • 3. quarter (pdf)
  • 2. quarter (.xlsx)

  • Reporting of crude, natural gas and NGL sales
    From 1 July 2011 the companies that submit reports to the Ministry shall report their sales through the License2Share. To get access to License2Share, contact License2Share Service Desk: Phone: +47 51222622, Email:

    Report of crude and NGLs sales shall be done through specific excel template files. These can be found at License2Share.

    The Secretariat of the Petroleum Price Board has made a guide for the reporting of crude oil and natural gas liquids: A guideline for electronic reporting of sale of crudes and NGLs.

    Petroleum Price Board – in brief
    To calculate the taxable income for oil companies i Norway, the Petroleum Price Council (PPB) sets tax reference prices, also known as norm prices. The main principle for setting norm prices is that the norm price should reflect the price that could have been achieved between independant parties. Specific regulations govern the procedures for setting norm prices.

    PPR meets every quarter to set norm prices for the previous  quarter. Generally, each crude gets a specfic norm price. PPB  collects information from a variety of sources, including companies operating on the Norwegian shelf. PPB also has meetings with the companies before the final norm price is set. Companies may also appeal PPBs decision to the Ministry of Petroleum and Energy.

    In cases where the PPB does not set norm prices, the actual achieved sale price will be the tax reference price. This applies to some crudes and natural gas liquids. For natural gas the actual price is used for tax purposes.

     

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